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Outlook:
The spot rupee is expected to open in the range of 44.58-62 to a dollar.
Sentiment: Bullish
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| Strong cross currency movement against dollar and corporate inflows pushed the rupee to close at a high of 44.61/62 after opening at 44.71/72 to a dollar . The annualised premiums for six-month and one-year dollars closed at 3.26 per cent and 2.77 per cent respectively. |
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| Money market |
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Sentiment: Dull
The government securities market was rangebound, ignoring remarks of the Reserve Bank of India. The prices of benchmark securities moved in a band of 5-10 paise. The yield on the 10-year benchmark paper closed at 7.60 per cent. Call rates remained high at 8.20 per cent even as the RBI injected around Rs 11,600 crore into the system. The RBI deputy governor stated that the tightness in liquidity was temporary. |
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